For the Quarter Ending June 2023

North America:

In the second quarter of 2023, the US Sodium Gluconate market witnessed an overall decline in prices, despite an initial price increase observed in April. During the first month of the quarter, Sodium Gluconate prices in the US rose, driven by local mills maintaining high base prices, which positively influenced the market sentiment for both domestic and overseas buyers. Reduced delivery times also contributed to a decrease in local inventory levels, resulting in an uptick in Sodium Gluconate prices in the US spot market. However, in the latter part of the quarter, market sentiment for Sodium Gluconate turned bearish due to economic instability arising from a debt crisis caused by the failure of major banks across the USA. As inflation rates rose, the US Federal Reserve raised interest rates, further impacting buyer confidence and leading to a sluggish US Sodium Gluconate spot market. A decline in employment rates also affected downstream sectors in the US, resulting in reduced demand for Sodium Gluconate in the spot market. Despite this, local inventory levels remained high, leading the US government to impose countervailing duties on Sodium Gluconate imports from Indian and European suppliers. Towards the end of the quarter, the US government's decision to extend the debt crisis raised hopes for a potential recovery in the US Sodium Gluconate market in the upcoming quarter.

APAC:

In the second quarter of 2023, the Sodium Gluconate market in Asia experienced a bearish trend primarily driven by decreased demand from the printing and metal treatment industry. The prices of Sodium Gluconate declined by approximately 1.7%, 5.3%, and 2.0% in April, May, and June 2023, respectively. A similar trend was observed in the Indian market, where Sodium Gluconate prices decreased by around 4.2%, 4.5%, and 3.4%. Inflationary pressures led to increased production costs and subsequently reduced demand for the product in the Asian market. Despite sufficient supply in the domestic market, high inventories at the port prompted the sale of the product at lower rates to alleviate pressure. The Chinese economy faced challenges during this quarter, with low purchasing activity as consumers focused on essential goods. The Gross Domestic Product (GDP) grew at a slower-than-expected rate of 6.3% compared to the previous year. By the end of the quarter, the price of Sodium Gluconate FOB Qingdao (China) stood at USD 530/MT.

Get Real Time Prices of Sodium Gluconate: https://www.chemanalyst.com/Pricing-data/sodium-gluconate-1414

Europe:

In the second quarter, Sodium Gluconate prices in the European region initially experienced an increase but later saw an overall decline in the latter half of the quarter. In April 2023, prices surged in the European market due to significant growth in the downstream automotive industry, driving sufficient demand. However, in the second half of the quarter, the global economic downturn negatively affected market sentiment for Sodium Gluconate in Europe. A labor shortage across the European region impacted construction projects, leading to reduced Sodium Gluconate consumption and higher inventory levels in the European spot market. Additionally, the automobile industry declined as the European Union imposed dumping duties on imported Sodium Gluconate from Chinese and Indian markets during this period. Furthermore, plans by the Italian government to increase interest rates resulted in buyer hesitancy and led Italian steel mills to reduce their offer prices in the latter part of the quarter.

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